“The exclusivity of the AC was what made it and without it, the event will die. And it was that exclusivity that attracted the likes of LV.

Throughout the history of the AC, one thing holds true. It was a rich man’s game. There are a few exceptions, such as when DC managed to get rich backers, but in recent times there has only been one team that has really managed a credible challenge without a very rich patron, namely ETNZ, who instead had a government and a whole nation taking that role. The real problem we have now is that the Cup doesn’t appeal to the super rich (or those aspiring to be seen as such) as it used to. It was the ultimate non business challenge, because it was probably the most difficult to win of all sporting trophies. It was a ‘holy grail” that so many wasted so much on. For a number of reasons, the appeal has been lost and it isn’t because of the economic climate, because over the last 10 years the rich have got richer. For whatever reason, the Cup as it is now structured doesn’t appeal to the guys who could make it happen, either completely with their own money or using their money as seed capital and their contacts to get the rest. What we have now is sailors trying to take the role of those mega rich, with the likes of Ainslie and Cammas leading the teams.

To date, there is zero evidence that the total sponsorship model for teams is one that will work and that the event can succeed without mega rich team owners. Yet what we are seeing is a rush towards a format that appeals less and less to the very people they need to attract while at the same time, getting closer and closer to other “products” that are already out there. On this forum, we think there is a big difference between, say, the ESS and the new AC with the AC48′s, but what I believe that sponsors see is boats of a similar size. I wouldn’t be surprised if you can get 80% of the exposure for 10% of the budget from the ESS. Or is you are mega rich, you can do what EB is doing and get a GS32 which you can actually sail yourself and which will give you 90% of the thrills for 5% of the cost.

Seriously, how can anybody think that a near one design 48′ foiling cat is the “ultimate” is beyond me.”

PS: They are NOT “whiners”… They just want “fair play” – which ALL teams should be entitled to!! The Americans have a nasty habit of always trying to change things – ultimately to “suit themselves”!!